Apply Today

Winstar v. United States

The Situation

The savings and loan crisis of the 1980s resulted in numerous mergers and acquisitions. In 1989, the FIRREA legislation eliminated the goodwill created in these transactions as a component of regulatory capital. More than 100 savings institutions then sued the government, alleging breach of contract. The Supreme Court in 1994 found that liability existed.

NERA's Role

NERA has been retained by the Department of Justice in several large cases to assist it in the pending litigation over damages. Aggregate plaintiffs' claims are estimated at $30 billion.